Nonmetropolitan Maryland vs. Maryland
Comparative Trends Analysis:
Total Industry Earnings Growth and Change, 1969-2022
Introduction
Nonmetropolitan Maryland vs. Maryland
Nonmetropolitan Maryland:
2022 Earnings = $4,907,809K
2022 Percent of State = 1.70%
Maryland:
2022 Earnings = $287,923,831K
2022 Percent of U.S. = 1.89%
Industry earnings are incomes received by people who are directly involved with producing goods and services. Earnings, referred to also as "labor and proprietors income", include (1) wage and salary disbursements, (2) other labor income such as employer contributions to private retirement and medical insurance programs, and (3) the net incomes of proprietors (i.e., the owners of unincorporated enterprises).
In contrast to the more frequently cited employment data, earnings data more accurately reflect qualitative differences in labor's contributions toward the production of goods and services, namely the productivity differences reflected in variations in earnings per job. Earnings data, therefore, are better for comparing and tracking long-term trends and identifying short-run shifts in the level and composition of economic activity within and among counties.
Just like the employment data compiled by BEA, earnings data are reported on a place-of-work, or more accurately on a place-where-earned, basis.
Note: the BEA earnings data presented and discussed here in the context of comparing and assessing the economic growth and performance of county and regional economies are entirely separate and apart from--and should not be confused with--corporate earnings, which are compiled from the balance sheets of individual private corporations.
Nonmetropolitan Maryland Total Industry Earnings, 1970-2022
Current vs. Constant Dollars (Millions)
Nonmetropolitan Maryland Total Industry Earnings, 1970-2022
Current vs. Constant Dollars (Millions)
Figure 1.
Figure 1 depicts Nonmetropolitan Maryland's annual total industry earnings over 1970-2022 in current and constant (2017) dollars. Constant dollar measurements remove the effects of inflation. They allow for comparison of changes in the real purchasing power of Nonmetropolitan Maryland over time.
When measured in current dollars, Nonmetropolitan Maryland's total industry earnings increased 1,675.86%, from $276M in 1970 to $4,908M in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 202.49%, from $1,398M in 1970 to $4,229M in 2022.
Real Total Industry Earnings, 1969-2022 (Millions)
Real Total Industry Earnings, 1969-2022 (Millions)
Figure 2.
Figure 2 tracks Nonmetropolitan Maryland's and Maryland's annual real total industry earnings for the period 1969-2022 to illustrate real total industry earnings patterns over time. During this 54-year period, Nonmetropolitan Maryland's real total industry earnings rose from $1,379M in 1969 to $4,229M in 2022, for a net gain of $2,850M, or 206.65%. In comparison, Maryland's real total industry earnings advanced from $64,906M in 1969 to $248,118M in 2022, for a net advance of $183,213M, or 282.28%.
Total Industry Earnings as a Percent of the Maryland Total: 1969-2022
Total Industry Earnings as a Percent of the Maryland Total: 1969-2022
Figure 3.
Another interesting and insightful way of highlighting the total industry earnings growth of Nonmetropolitan Maryland is to trace its individual percentage contributions to Maryland's statewide total industry earnings over time, as shown in Figure 3. A rising share means a region's total industry earnings grew faster, or declined less, than Maryland's total industry earnings, while a declining share shows it grew more slowly.
In 1969, Nonmetropolitan Maryland's total industry earnings comprised 2.12% of Maryland's total industry earnings, while in 2022 it totaled 1.70% thereby yielding a -0.42% share-shift.
   
 
Total Industry Earnings Share-Shift
2022 vs. 1969
 
Share-
Shift*
 
2022
vs.
1969
-0.42%
=
1.70%
-
2.12%
 
   
Nonmetropolitan Maryland Real Total Industry Earnings:
Annual Percent Change, 1970-2022
Nonmetropolitan Maryland Real Total Industry Earnings:
Annual Percent Change, 1970-2022
Figure 4.
Figure 4 shows the short-run pattern of Nonmetropolitan Maryland's real total industry earnings growth by tracking the year-to-year percent change over 1970-2022. The average annual percent change for the entire 53-year period is also illustrated on this chart to provide a benchmark for gauging periods of relative high--and relative low--growth against the backdrop of the long-term average.
On average, Nonmetropolitan Maryland's real total industry earnings grew at an annual rate of 2.20% over 1970-2022. Nonmetropolitan Maryland recorded its highest growth in 1973 (12.35%) and posted its lowest growth in 1980 (-6.82%). In 2022, Nonmetropolitan Maryland's real total industry earnings grew by 0.69%
Nonmetropolitan Maryland Real Total Industry Earnings:
Annual Percent Change and Decade Averages Over 1970-2022
Nonmetropolitan Maryland Real Total Industry Earnings:
Annual Percent Change and Decade Averages Over 1970-2022
Figure 5.
Over the past five decades some nonmetropolitan regions have experienced extreme swings in growth, and often such swings have tended to coincide with the decades themselves. Figure 5 again illustrates the annual percent change in Nonmetropolitan Maryland's real total industry earnings since 1970, but this time they are overlayed with average growth rates for the decade of the 1970s, 1980s, 1990s, 2000s, 2010s, and 2020-2022.
During the 1970s, Nonmetropolitan Maryland's annual real total industry earnings growth rate averaged 2.64%. It averaged 3.20% in the 1980s, 2.62% in the 1990s, 1.77% throughout the 2000s, 0.88% during the 2010s, 1.83% thus far this decade (2020-2022).
Real Total Industry Earnings Growth:
Average Annual Percent Change by Decade
Real Total Industry Earnings Growth:
Average Annual Percent Change by Decade
Figure 6.
Figure 6 compares the decade average growth rates for Nonmetropolitan Maryland noted in the previous graph with the corresponding decade averages for Maryland and the nation. As the chart reveals, Nonmetropolitan Maryland's average annual real total industry earnings growth trailed Maryland's average in the 1970s (2.64% vs. 2.77%), posted below Maryland's average in the 1980s (3.20% vs. 3.79%), posted below Maryland's average throughout the 1990s (2.62% vs. 2.89%), posted below Maryland's average during the 2000s (1.77% vs. 2.73%), trailed Maryland's average during the 2010s (0.88% vs. 1.56%), and registered above Maryland's average over the 3 year period of the current decade, 2020-2022 (1.83% vs. -0.01%).
Finally, relative to nationwide real total industry earnings growth trends, Nonmetropolitan Maryland recorded underneath the nation in the 1970s (2.64% vs. 3.13%), registered above the nation during the 1980s (3.20% vs. 2.62%), fell under the nation over the 1990s (2.62% vs. 3.43%), outgained the nation during the 2000s (1.77% vs. 1.47%), fell under the nation during the 2010s (0.88% vs. 2.53%), and outpaced the nation over 2020-2022 (1.83% vs. 1.48%).
   
 
Real* Total Industry Earnings Growth:
Average Annual Percent Change
 
 
 
2.20
2.64
3.20
2.62
1.77
0.88
1.83
0.69
 
2.59
2.77
3.79
2.89
2.73
1.56
-0.01
-1.32
 
2.57
3.13
2.62
3.43
1.47
2.53
1.48
0.05
 
   

Interactive TableTip: To augment your analysis click on the column headers in the following table to rank and/or sort the data.

   
 
Nonmetropolitan Maryland:
Total Industry Earnings, 1969-2022
 
1969
 
260,437
0.189
1,379,214
100.0
N
2.12
1970
 
276,362
0.198
1,398,169
101.4
1.37
2.07
1971
 
284,838
0.206
1,382,373
100.2
-1.13
1.96
1972
 
322,349
0.213
1,512,807
109.7
9.44
2.02
1973
 
381,637
0.225
1,699,564
123.2
12.35
2.15
1974
 
413,975
0.248
1,669,725
121.1
-1.76
2.15
1975
 
442,102
0.269
1,645,949
119.3
-1.42
2.16
1976
 
479,187
0.283
1,691,268
122.6
2.75
2.14
1977
 
499,325
0.302
1,654,709
120.0
-2.16
2.05
1978
 
567,255
0.323
1,757,513
127.4
6.21
2.09
1979
 
622,396
0.351
1,771,038
128.4
0.77
2.08
1980
 
642,384
0.389
1,650,185
119.6
-6.82
1.97
1981
 
696,492
0.424
1,642,089
119.1
-0.49
1.95
1982
 
721,893
0.448
1,612,412
116.9
-1.81
1.92
1983
 
768,127
0.467
1,645,657
119.3
2.06
1.88
1984
 
891,526
0.484
1,840,513
133.4
11.84
1.95
1985
 
964,904
0.501
1,924,880
139.6
4.58
1.93
1986
 
1,038,939
0.512
2,028,425
147.1
5.38
1.91
1987
 
1,151,195
0.528
2,180,211
158.1
7.48
1.93
1988
 
1,298,570
0.549
2,366,846
171.6
8.56
1.97
1989
 
1,372,339
0.573
2,396,638
173.8
1.26
1.95
1990
 
1,482,047
0.598
2,479,376
179.8
3.45
1.99
1991
 
1,499,592
0.618
2,427,546
176.0
-2.09
1.97
1992
 
1,568,076
0.634
2,472,526
179.3
1.85
1.97
1993
 
1,618,705
0.650
2,490,315
180.6
0.72
1.95
1994
 
1,714,609
0.664
2,583,955
187.3
3.76
1.98
1995
 
1,772,496
0.678
2,616,076
189.7
1.24
1.96
1996
 
1,854,716
0.692
2,680,109
194.3
2.45
1.97
1997
 
1,915,783
0.704
2,721,012
197.3
1.53
1.90
1998
 
2,071,473
0.710
2,918,924
211.6
7.27
1.90
1999
 
2,227,372
0.720
3,093,529
224.3
5.98
1.90
2000
 
2,386,466
0.738
3,232,730
234.4
4.50
1.88
2001
 
2,503,975
0.753
3,325,244
241.1
2.86
1.85
2002
 
2,586,599
0.763
3,390,438
245.8
1.96
1.82
2003
 
2,771,324
0.779
3,557,814
258.0
4.94
1.86
2004
 
2,969,876
0.798
3,720,390
269.7
4.57
1.86
2005
 
3,104,999
0.821
3,780,729
274.1
1.62
1.84
2006
 
3,240,747
0.844
3,837,929
278.3
1.51
1.84
2007
 
3,266,143
0.866
3,771,223
273.4
-1.74
1.80
2008
 
3,334,232
0.892
3,739,186
271.1
-0.85
1.77
2009
 
3,269,728
0.889
3,677,116
266.6
-1.66
1.73
2010
 
3,312,014
0.905
3,659,118
265.3
-0.49
1.68
2011
 
3,403,006
0.928
3,666,874
265.9
0.21
1.65
2012
 
3,513,989
0.945
3,717,169
269.5
1.37
1.66
2013
 
3,671,093
0.958
3,832,799
277.9
3.11
1.72
2014
 
3,706,901
0.971
3,816,786
276.7
-0.42
1.70
2015
 
3,784,209
0.973
3,889,258
282.0
1.90
1.66
2016
 
3,807,480
0.983
3,873,957
280.9
-0.39
1.60
2017
 
3,932,386
1.000
3,932,386
285.1
1.51
1.61
2018
 
4,025,242
1.020
3,944,498
286.0
0.31
1.60
2019
 
4,151,120
1.035
4,010,240
290.8
1.67
1.62
2020
 
4,147,142
1.046
3,963,437
287.4
-1.17
1.61
2021
 
4,578,572
1.090
4,200,486
304.6
5.98
1.67
2022
 
4,907,809
1.160
4,229,302
306.6
0.69
1.70
Source: Calculations by the Maryland Regional Economic Analysis Project (MD-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_1200_PSN
 
   

Interactive TableTip: To augment your analysis click on the column headers in the following table to rank and/or sort the data.

   
 
Maryland:
Total Industry Earnings, 1969-2022
 
1969
 
12,256,135
0.189
64,905,656
100.0
N
1.87
1970
 
13,338,062
0.198
67,479,824
104.0
3.97
1.92
1971
 
14,508,419
0.206
70,412,128
108.5
4.35
1.96
1972
 
15,963,649
0.213
74,918,570
115.4
6.40
1.95
1973
 
17,769,989
0.225
79,136,001
121.9
5.63
1.93
1974
 
19,295,472
0.248
77,826,290
119.9
-1.66
1.94
1975
 
20,460,919
0.269
76,176,169
117.4
-2.12
1.93
1976
 
22,443,210
0.283
79,212,261
122.0
3.99
1.91
1977
 
24,332,176
0.302
80,634,199
124.2
1.80
1.87
1978
 
27,131,974
0.323
84,062,381
129.5
4.25
1.84
1979
 
29,881,353
0.351
85,027,895
131.0
1.15
1.81
1980
 
32,533,936
0.389
83,574,640
128.8
-1.71
1.82
1981
 
35,799,521
0.424
84,402,973
130.0
0.99
1.83
1982
 
37,664,197
0.448
84,126,325
129.6
-0.33
1.83
1983
 
40,912,869
0.467
87,652,903
135.0
4.19
1.87
1984
 
45,641,179
0.484
94,224,032
145.2
7.50
1.88
1985
 
50,074,574
0.501
99,893,421
153.9
6.02
1.91
1986
 
54,423,947
0.512
106,257,340
163.7
6.37
1.95
1987
 
59,550,228
0.528
112,780,251
173.8
6.14
1.99
1988
 
65,836,588
0.549
119,997,426
184.9
6.40
2.02
1989
 
70,316,471
0.573
122,799,935
189.2
2.34
2.03
1990
 
74,511,566
0.598
124,653,394
192.1
1.51
2.03
1991
 
76,207,037
0.618
123,364,258
190.1
-1.03
2.01
1992
 
79,642,529
0.634
125,579,516
193.5
1.80
1.96
1993
 
82,842,058
0.650
127,449,320
196.4
1.49
1.96
1994
 
86,795,667
0.664
130,803,043
201.5
2.63
1.95
1995
 
90,353,516
0.678
133,355,250
205.5
1.95
1.93
1996
 
94,282,851
0.692
136,240,988
209.9
2.16
1.90
1997
 
100,575,837
0.704
142,849,201
220.1
4.85
1.90
1998
 
109,283,695
0.710
153,992,271
237.3
7.80
1.91
1999
 
117,257,593
0.720
162,855,506
250.9
5.76
1.92
2000
 
127,177,092
0.738
172,275,327
265.4
5.78
1.93
2001
 
135,214,123
0.753
179,562,459
276.7
4.23
1.97
2002
 
142,403,064
0.763
186,657,750
287.6
3.95
2.03
2003
 
149,320,884
0.779
191,697,543
295.3
2.70
2.06
2004
 
159,812,577
0.798
200,198,651
308.4
4.43
2.08
2005
 
168,343,105
0.821
204,979,002
315.8
2.39
2.09
2006
 
176,502,450
0.844
209,027,061
322.0
1.97
2.07
2007
 
181,517,421
0.866
209,587,471
322.9
0.27
2.05
2008
 
188,471,406
0.892
211,361,900
325.6
0.85
2.09
2009
 
189,217,790
0.889
212,793,142
327.8
0.68
2.18
2010
 
196,844,218
0.905
217,473,781
335.1
2.20
2.18
2011
 
206,188,766
0.928
222,176,594
342.3
2.16
2.18
2012
 
211,335,299
0.945
223,554,805
344.4
0.62
2.14
2013
 
213,122,352
0.958
222,510,051
342.8
-0.47
2.09
2014
 
218,545,012
0.971
225,023,437
346.7
1.13
2.06
2015
 
228,546,962
0.973
234,891,378
361.9
4.39
2.07
2016
 
237,280,340
0.983
241,423,161
372.0
2.78
2.10
2017
 
244,491,363
1.000
244,491,363
376.7
1.27
2.06
2018
 
250,864,897
1.020
245,832,702
378.8
0.55
2.02
2019
 
256,995,653
1.035
248,273,795
382.5
0.99
1.98
2020
 
258,242,481
1.046
246,803,155
380.2
-0.59
1.96
2021
 
274,082,783
1.090
251,449,788
387.4
1.88
1.92
2022
 
287,923,831
1.160
248,118,224
382.3
-1.32
1.89
Source: Calculations by the Maryland Regional Economic Analysis Project (MD-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_1200_PSN
 
   

Interactive TableTip: To augment your analysis click on the column headers in the following table to rank and/or sort the data.

   
 
United States:
Total Industry Earnings, 1969-2022
 
1969
 
653,665,000
0.189
3,461,658,635
100.0
N
1970
 
693,352,000
0.198
3,507,801,275
101.3
1.33
1971
 
742,094,000
0.206
3,601,523,902
104.0
2.67
1972
 
819,646,000
0.213
3,846,658,532
111.1
6.81
1973
 
918,964,000
0.225
4,092,469,383
118.2
6.39
1974
 
993,909,000
0.248
4,008,829,105
115.8
-2.04
1975
 
1,059,492,000
0.269
3,944,497,394
113.9
-1.60
1976
 
1,173,271,000
0.283
4,141,005,188
119.6
4.98
1977
 
1,303,767,000
0.302
4,320,542,816
124.8
4.34
1978
 
1,476,080,000
0.323
4,573,305,242
132.1
5.85
1979
 
1,648,363,000
0.351
4,690,444,754
135.5
2.56
1980
 
1,784,597,000
0.389
4,584,353,165
132.4
-2.26
1981
 
1,961,173,000
0.424
4,623,772,250
133.6
0.86
1982
 
2,053,729,000
0.448
4,587,185,902
132.5
-0.79
1983
 
2,188,018,000
0.467
4,687,672,466
135.4
2.19
1984
 
2,432,402,000
0.484
5,021,577,654
145.1
7.12
1985
 
2,615,791,000
0.501
5,218,223,348
150.7
3.92
1986
 
2,786,901,000
0.512
5,441,146,840
157.2
4.27
1987
 
2,996,000,000
0.528
5,674,027,499
163.9
4.28
1988
 
3,259,979,000
0.549
5,941,819,010
171.6
4.72
1989
 
3,467,027,000
0.573
6,054,778,994
174.9
1.90
1990
 
3,679,460,000
0.598
6,155,516,520
177.8
1.66
1991
 
3,789,428,000
0.618
6,134,341,309
177.2
-0.34
1992
 
4,059,023,000
0.634
6,400,225,481
184.9
4.33
1993
 
4,237,437,000
0.650
6,519,133,846
188.3
1.86
1994
 
4,456,948,000
0.664
6,716,721,924
194.0
3.03
1995
 
4,674,849,000
0.678
6,899,738,761
199.3
2.72
1996
 
4,956,180,000
0.692
7,161,799,344
206.9
3.80
1997
 
5,288,047,000
0.704
7,510,683,597
217.0
4.87
1998
 
5,707,014,000
0.710
8,041,785,619
232.3
7.07
1999
 
6,098,042,000
0.720
8,469,385,147
244.7
5.32
2000
 
6,598,743,000
0.738
8,938,721,519
258.2
5.54
2001
 
6,865,291,000
0.753
9,117,010,172
263.4
1.99
2002
 
7,001,002,000
0.763
9,176,707,606
265.1
0.65
2003
 
7,243,377,000
0.779
9,299,017,896
268.6
1.33
2004
 
7,674,785,000
0.798
9,614,272,113
277.7
3.39
2005
 
8,039,238,000
0.821
9,788,788,097
282.8
1.82
2006
 
8,519,349,000
0.844
10,089,233,775
291.5
3.07
2007
 
8,866,261,000
0.866
10,237,349,175
295.7
1.47
2008
 
9,014,085,000
0.892
10,108,876,304
292.0
-1.25
2009
 
8,688,913,000
0.889
9,771,497,172
282.3
-3.34
2010
 
9,023,916,000
0.905
9,969,635,637
288.0
2.03
2011
 
9,444,387,000
0.928
10,176,702,513
294.0
2.08
2012
 
9,854,834,000
0.945
10,424,645,101
301.1
2.44
2013
 
10,180,570,000
0.958
10,629,007,841
307.0
1.96
2014
 
10,613,874,000
0.971
10,928,505,678
315.7
2.82
2015
 
11,039,821,000
0.973
11,346,284,134
327.8
3.82
2016
 
11,311,477,000
0.983
11,508,970,941
332.5
1.43
2017
 
11,848,205,000
1.000
11,848,205,000
342.3
2.95
2018
 
12,438,590,000
1.020
12,189,079,542
352.1
2.88
2019
 
12,989,097,000
1.035
12,548,276,062
362.5
2.95
2020
 
13,158,025,000
1.046
12,575,166,053
363.3
0.21
2021
 
14,278,043,000
1.090
13,099,001,844
378.4
4.17
2022
 
15,207,952,000
1.160
13,105,445,395
378.6
0.05
Source: Calculations by the Maryland Regional Economic Analysis Project (MD-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_1200_PN
 
   
Copyright © 2023. Pacific Northwest Regional Economic Analysis Project (PNREAP). All Rights Reserved.

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